{"id":319,"date":"2011-09-15T15:31:00","date_gmt":"2011-09-15T19:31:00","guid":{"rendered":"http:\/\/newsroom.chainstoreguide.com\/2011\/09\/home-center-and-hardware-industry-updates\/"},"modified":"2011-09-15T15:31:00","modified_gmt":"2011-09-15T19:31:00","slug":"home-center-and-hardware-industry-updates","status":"publish","type":"post","link":"https:\/\/www.chainstoreguide.com\/offthechain\/2011\/09\/home-center-and-hardware-industry-updates\/","title":{"rendered":"Home Center and Hardware Industry Updates"},"content":{"rendered":"
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Personnel Updates:<\/p>\n

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Ace Hardware Corp<\/span><\/b>., announced that Dorvin D. Lively most recently Exec VP and CFO has left the company for RadioShack Corp<\/b>. where he was appointed as Exec VP, CFO and Chief Administrative Officer.<\/o:p><\/span><\/div>\n
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Carter Lumber<\/span><\/b> has announced the promotion of Mark Smith to District Manager for Central Indiana<\/st1:place>. <\/o:p><\/span><\/div>\n
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Lowe\u2019s Cos.<\/span><\/b> promoted M. Lee Reeves to Senior VP, Deputy General Counsel and Assistant Secretary. <\/o:p><\/span><\/div>\n
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Lowe’s<\/span><\/b> has announced a number of changes in restructuring within in-store operations and merchandising organizations.\u00a0 Troy Dally, Senior VP\/GMM Hardlines\/Building Products, will lead the new building and outdoor products division.\u00a0 Clinton Davis, Senior VP\/GMM kitchen and bath, will lead the new kitchen, bath and home decor products division.<\/o:p><\/span><\/div>\n
Three Senior VPs have left the company. They are Theresa Anderson and Robert Wagner, previously Senior VPs Operations, and Patricia Price, previously Senior VP\/GMM Home Decor.<\/o:p><\/span><\/div>\n
Eric Sowder, Senior VP\/GMM Outdoor Living, has retired from Lowe’s.<\/o:p><\/span><\/div>\n
The company’s U.S.<\/st1:place><\/st1:country-region>store operations organization will now operate under three divisions – North, South and West.<\/o:p><\/span><\/div>\n
\u2022 William (Bill) Edwards, Senior VP Operations \u2013 South Division.
\u2022 James (Jim) Frasso, Senior VP Operations \u2013 North Division.
\u2022 Brent Kirby, Senior VP Operations \u2013 West Division.<\/o:p><\/span><\/div>\n
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ProBuild Holdings<\/span><\/b> President and CEO Bill Myrick is no longer with the company.\u00a0 Fred Marino, Vice Chairman of ProBuild\u2019s board will serve as acting President and CEO, while an executive search is conducted.\u00a0 <\/o:p><\/span><\/div>\n
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ProBuild Holdings<\/span><\/b> President of Operations, Jim Cavanaugh has left the company.<\/o:p><\/span><\/div>\n
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RONA Inc<\/span><\/b>. announced the appointment of Dominique Boies to the position of Exec Vice President and CFO. <\/o:p><\/span><\/div>\n
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Universal Forest Products, Inc<\/span><\/b><\/span> announced that Matthew J. Missad, former Exec VP, General Counsel, has been appointed CEO of the company.\u00a0 <\/span><\/span>Former <\/b>CEO Michael Glenn retired due to health reasons.<\/o:p><\/span><\/div>\n
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Mergers and Acquisitions:<\/o:p><\/span><\/b><\/div>\n

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John H. Myers<\/span><\/b>, a chain located throughout South Central Pennsylvania and Northern Maryland<\/st1:place>, has joined US LBM Holdings.\u00a0 <\/span>Myers will continue to operate as John H. Myers & Son with its same work force and base of retail locations. US<\/st1:country-region><\/st1:place> LBM Holdings provides Myers with capital and back-office support to enable growth.\u00a0<\/span><\/o:p><\/span><\/div>\n
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Industry Insight:<\/o:p><\/span><\/b><\/div>\n
Graeber\u2019s Lumber<\/span><\/b>, a one-unit lumberyard and millwork shop in Fairless Hills<\/st1:city>, Pa.<\/st1:state><\/st1:place>, closed for business.<\/o:p><\/span><\/div>\n
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Lowe\u2019s<\/span><\/b> permanently closed home improvement stores in Schaumburg and Elgin<\/st1:city> Illinois<\/st1:state><\/st1:place>.<\/o:p><\/span><\/div>\n
The two stores were targeted for shut down because they routinely missed sales estimates from the outset of the facilities opening, adding those sales figures did not improve over time.\u00a0 In addition, Lowe\u2019s announced the closure of seven stores.<\/o:p><\/span><\/div>\n
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Lyman Lumber<\/span><\/b>, a nine-unit LBM chain based in Excelsior, Minn.<\/st1:place><\/st1:state>, has signed a letter of intent to sell its operations to SP Asset Management.\u00a0 The 114-year-old company also plans to file for Chapter 11 bankruptcy.\u00a0\u00a0 SP Asset Management is an affiliate of New York-based Steel Partners Holdings, a diversified holding company headed by activist investor Warren Lichtenstein.\u00a0 The sale would allow Lyman to continue to provide services to customers.\u00a0 The sale is subject to bankruptcy court approval.\u00a0 The company hopes to use bankruptcy protection to restructure debt obligations and shed non-performing assets, such as its land holdings and construction-lending portfolio.<\/o:p><\/span><\/div>\n
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Martin\u2019s True Value Hardware store<\/span><\/b> of <\/span>Hannibal<\/span><\/st1:city> MO.<\/st1:state><\/span><\/st1:place> <\/span>has closed down operations.<\/o:p><\/span><\/div>\n
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Suburban Ace Hardware<\/span><\/b> of West St. Paul<\/st1:city>, Minn.<\/st1:state><\/st1:place>, will permanently close after its current liquidation sale last week.\u00a0<\/o:p><\/span><\/div>\n
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Real Estate:<\/o:p><\/span><\/b><\/div>\n

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Marvin’s<\/span><\/b> is<\/p>\n

building a store in Eufaula<\/st1:city>, Ala.<\/st1:state><\/st1:place>— the 27th store for the home center chain, and the second new store in 2011.<\/o:p><\/span><\/div>\n

The company opened its 26th store in Monroeville<\/st1:city>, Ala.<\/st1:state><\/st1:place>, earlier this year.<\/o:p><\/span><\/div>\n
Construction will begin soon at the site on highway 431 in Eufaula, where the company hopes to open a 34,000-sq.-ft. store in early October, or sooner. The site is a former Walmart.<\/o:p><\/span><\/div>\n
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Menards <\/span><\/b>plans to open a new location in Miami Township<\/st1:city>, Ohio<\/st1:state><\/st1:place>, on Springboro Pike.\u00a0 The store will take the place of an existing plaza, the Lyons Crossing shopping center, which will be demolished to make room for the approximately $9 million project. <\/o:p><\/span><\/div>\n
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Menards <\/span><\/b>has received final approval in Howard<\/st1:city>, Wis.<\/st1:state>, outside of Green Bay<\/st1:place><\/st1:city>, in a controversial deal that included $1.6 million in tax incentives to construct a\u00a0162,340-sq.-ft. location.\u00a0 A divided Village Board voted 5 to 4 on June 27 to give the Midwestern home improvement chain $1.6 million in tax reimbursements over 15 years, provided the property remains valued at more than $8.7 million (its current estimated value) for the duration of that period.\u00a0 The incentive package will not come directly from the village coffers. Instead, the village will pay 80% of Menards’ annual real estate taxes generated under \u201cincreased taxes resulting from development\u201d assessment.\u00a0 The store will be built on 18.7 acres near U.S. 41. The main building will include 94,432 sq. ft. of retail space, 64,157 sq. ft. of warehouse and 3,751 sq. ft. for offices. There also will be a separate 42,352-sq.-ft. lumber warehouse. The development will include 428 parking spaces.<\/o:p><\/span><\/div>\n
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Technology News:<\/o:p><\/span><\/b><\/div>\n

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Lowe\u2019s <\/span><\/b>announced that by the end of this year the company will complete it\u2019s initiative to roll out iPhone mobile devices to it\u2019s associates. The device will be used to check inventory and website checks. The company also announced<\/span> <\/span><\/span>it has launched a home improvement app for iPhone and iPod.<\/span><\/span><\/o:p><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Personnel Updates: Ace Hardware Corp., announced that Dorvin D. Lively most recently Exec VP and CFO has left the company for RadioShack Corp. where he was appointed as Exec VP, CFO and Chief Administrative Officer. Carter Lumber has announced the promotion of Mark Smith to District Manager for Central Indiana. Lowe\u2019s Cos. promoted M. Lee… Continue reading Home Center and Hardware Industry Updates<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"post-template-no-sidebar.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[6,11],"class_list":["post-319","post","type-post","status-publish","format-standard","hentry","category-home-hardware","tag-csg-old","tag-eupdate","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/comments?post=319"}],"version-history":[{"count":0,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/posts\/319\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/media?parent=319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/categories?post=319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chainstoreguide.com\/offthechain\/wp-json\/wp\/v2\/tags?post=319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}